Official MLBlog of Keith Olbermann

Exactly What The Mets Need

So it’s official now: The Wilpons have found a minority investor who is willing to fork over $200,000,000 for 49% of the Mets’ franchise – but unless the terminology is deliberately misleading, no final say over a team that the majority investor just mentioned the other day was “bleeding cash” and could lose $70 million this year.

So…now the team is going to bleed some of the new investor’s cash? Did $34 million of David Einhorn’s still-unapproved investment just go sliding down the proverbial rat hole before they could get him his new souvenir jersey with his name on it, right above the number “49%”?

And after what was thought to be a solid if lunkheadedly-run ballclub turned out to be in economic quicksand due to its association with the supposedly fabulous investment mega-money making genius Bernie Madoff, is it smart for the Wilpons and the Mets to now get into bed with a supposedly fabulous investment mega-money making genius David Einhorn?

11 Comments

Einhorn may need to win the World Series of Poker Main Event this year to save the franchise. And in this year of declining registration in said event (due to “Black Friday” on US internet poker), it still may not be enough.
He was 18th in 2006 in the largest field ever.

Clearly, Einhorn believes that the Wilpons will wind up having to sell their majority share. I agree with him. And when the Wilpons sell, Einhorn will be in a better position than anybody else on Planet Earth to buy the majority share.

He’s a billionaire, and a big baseball fan. If I were a billionaire, I’d have felt inclined to make this purchase too. He’s now “on-deck” to be the owner of his favorite team. And he still has more than $1 billion leftover.

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